Know Your Tenants – Proper Background Checks

Buying an income property is a great way to diversify your investment portfolio. Adding a real estate component to your portfolio allows you to take advantage of market growth while providing an income stream. Finding and keeping good tenants is the most important aspect of managing a rental property. Proper background checks can mean the difference between a financially successful investment and a money-pit; costly evictions, extended vacancies and property destruction can be reduced or avoided by taking the time to do a proper tenant screening at the time of application.

PropertyZar understands the importance of proper background checks, so they have teamed up with Reliable Screening which provides valuable information about potential tenants. Having a bad tenant can not only add stress to your life, but cause problems which can last for years.

Non-Payment/Slow-Payment

Income producing properties are supposed to produce income. Non-paying or slow-paying tenants do not fit that description. A proper background check can help you determine the credit worthiness of the applicant and payment history.

Property Destruction

Your income property is an investment. Tenants with good credit typically do not damage property and if damage does occur, you are more likely to be able to collect from a tenant who is not in danger of declaring bankruptcy.

Eviction

Evicting a tenant is a long and costly process. Even with the proper documentation, you might find yourself fighting to remove a tenant for months. This can be avoided by doing proper background checks.

PropertyZar has researched many of available options for their landlords and found that Reliable Screening was the best fit for their subscribers. The cost is reasonable (between $22 and $25) and typically passed on to the applicant. While this price compares to the “budget screening services” their accuracy is unparalleled. They keep costs low and pass that savings onto the landlord.

PropertyZar is more than just an online property management solution; we are your business partners. We strive to find the latest tools and technology to help you manage your investment properties and allow you to achieve your financial goals.

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